22 Jan 2024

The issuance of the Absa Bank Botswana sustainable bond shows commitment to drive positive change and to build a more resilient and sustainable future for the country.

This was said by Minister of Environment and Tourism, Ms Philda Kereng, at the issuance and listing of the bond on the Botswana Stock Exchange (BSE) January 18. She said the issuance of the bond reflected commitment to drive positive environmental change through responsible financial practices, and that it opened opportunities for a wide range of sustainable solutions to safe humanity and propel the country’s economic growth.

She applauded the bank for playing a positive role in capital markets, adding that it was demonstrated by the bank’s innovative and transformative initiatives geared towards sustainable environmental conservation. Ms Kereng also commended government and private sector partners for bringing the financial instruments to the market. She said it was through such partnerships that Botswana was on cause to become one of the leading financial hubs both regionally and internationally. She said the Absa sustainable bond issuance was testament of government’s commitment to promote a private sector lead economy.

Ms Kereng said the 2021 climate change policy called for partnerships with different stakeholders to attain deliverables, and applauded Absa Bank Botswana for heeding the government’s plea for the private sector to play a more significant role in the policy implementation process.

“Absa has illustrated that the drive towards sustainable financing is just not a concept, but a reality that can be of benefit to the country and assist Botswana in contributing meaningfully towards the attainment of sustainable development goals as well as the country’s Vision 2036 pillars,” she said. She said government was fully behind Absa’s initiative as it positioned the country on the path to success in the drive to align to global trends.

“We would like to see Botswana counted among the change makers, and for that we commend Absa Bank Botswana for being the first in taking the lead in putting the country on the global stage through impactful changes in the financial landscape,” she said.

 Ms Kereng said the P47.4 million sustainable bond would go a long way in supporting the development and growth of environmental awareness and urged other investors and the private sector to take advantage of similar instruments for economic growth and to remain competitive in the global financial markets.  ENDS